CH4 Flashcards
Opportunities are a firm’s distinctive competencies that cannot be easily matched or imitated by competitors.
F
The process of performing an internal audit, compared to the external audit, provides more opportunity for participants to understand how their jobs, departments and divisions fit into the whole organization.
T
An internal audit task force of managers could be charged with determining a specific number (usually 10 to 20) of the most important strengths and weaknesses.
T
Proponents of the resource-based view argue that external factors are more important than internal factors for a firm in achieving and sustaining competitive advantage
F
The basic premise of the research-based view is that the mix, type, amount and nature of a firm’s internal resources should be considered first and foremost in devising strategies that can lead to sustainable competitive advantage.
T
The subtle, elusive and largely unconscious forces that shape the workplace are captured by the organizational culture.
T
Cultural products include values, beliefs, stories, and language.
T
Metaphors are handed-down narratives of some wonderful event that are based on history but have been embellished with fictional detail.
F
A ritual is a standardized, detailed set of techniques and behaviors used to manage anxieties.
T
10) For a resource to be valuable, it must be either rare, hard to imitate, or not easily sustainable.
T
11) Linkages between a firm’s culture and strategies often determine success.
T
12) Resources that are common are never considered valuable.
F
The RBV theory asserts that it is advantageous for a firm to pursue a strategy that is not currently being implemented by any competing firm.
T
- Some companies are equally strong (or weak) in all areas of their business.
F
Objectives and strategies are established with the intention of capitalizing upon external strengths and minimizing weaknesses.
F
The internal analysis is critically important in the Arab world as upbringing and socialization may induce executives to overestimate strengths and weaknesses
T
- Within large organizations, each division has certain strengths and weaknesses.
T
- Building competitive advantages involves taking advantage of distinctive competencies.
T
- Few successful corporations give considerable attention to both external and internal analysis.
F
Generally, in the Arab world, the internal capacity to assess external environments and explore their trends is lacking.
T
Senior Arab executives should give priority to internal capacity-building processes and encourage creative rethinking of strategic initiatives and external trends.
T
Unlike the external assessment, the internal assessment does not require gathering and assimilating information about the firm’s functional areas.
F
As long as the strategic-management process is overseen by strategists, there is no need for managers and employees from different functional areas to work together to provide ideas or information.
F
Not recognizing and understanding the relationships among functional areas of business can be beneficial to strategic management.
F